Third Point LLC, a hedge fund controlled by activist investor Daniel Loeb, has bought more than 1 million shares of the common stock of Roper Industries Inc.

The 1.15 million shares Third Point reported it owned as of May 15 were valued at $153.5 million, according to a filing with the U.S. Securities and Exchange Commission.

Roper had about 99.7 million shares outstanding as of April 25, giving Third Point control of slightly over 1 percent of Roper’s stock.

Roper (NYSE:ROP) is a Sarasota-based firm that designs, manufactures and distributes a variety of products for niche markets including medical, energy, water, and technology. With $3.2 billion in 2013 revenue, Roper is No. 7 among the largest public companies headquartered in Tampa Bay.

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